CURAÇAO ENTITIES WITH NON-GCB LICENCES IN BREACH OF CURAÇAO’S CRIMINAL CODE
THE GCB’S RECENT CLARIFICATION IS A STRONG STATEMENT OF ITS INTENT TO MAINTAIN EXCLUSIVE JURISDICTIONAL CONTROL OVER IGAMING OPERATIONS WITHIN CURAÇAO.
On the final day of SIGMA Malta, the GCB hosted a workshop to address key questions regarding the transition to the new regulatory framework. Among the issues discussed, the most critical clarification was that Curaçao-registered entities are strictly prohibited from holding licences issued by other jurisdictions.
While there had been speculation about this matter previously, the workshop marked the first time the GCB formally clarified and publicly communicated this requirement, leaving no room for ambiguity: holding a non-GCB licence as a Curaçao-registered entity is a violation of Curaçao’s criminal code.
This means that any Curaçao entity currently holding licences from other jurisdictions, such as Anjouan or Kahnawake, is exposed to criminal penalties as well as being at risk of having their GCB licence revoked.
What does this mean for me?
Given how straightforward it is for authorities to identify offending companies, which are clearly listed in public registries maintained by competing jurisdictions as in the examples below, we recommend you act promptly to mitigate the associated legal risks.
https://gamingcommission.ca/interactive-gaming/permit-holders/
https://anjouangaming.com/license-register/
Reach out to our team to verify your current status. We’ll help you proactively avoid any legal entanglements by transferring the offending licences to entities registered outside of Curaçao.
